Total revenues climbed 38 percent to P2.9 billion, while earnings before interest, taxes, depreciation and amortization rose 42 percent to P2.1 billion, supported by robust leasing from key assets like Ayala Triangle Gardens Tower 2, Greenbelt malls, and Seda hotels.
The strong start comes ahead of a major asset infusion approved by stockholders in April, involving eight properties across Cebu, Davao, and Cagayan de Oro valued at P21 billion.
On track for $3-B asset goal
Once finalized, these assets will lift AREIT’s total assets under management (AUM) to P138 billion, up fivefold from its initial public offering level.
“We will see our AUM quintuple to P138 billion from IPO, keeping us on track to reach our goal of reaching $3 billion within the coming years, scaling to levels comparable with major regional REITs,” said AREIT president and CEO Jose Eduardo A. Quimpo II.
AREIT’s portfolio ended the quarter with 99 percent occupancy, reflecting stable demand for prime office, retail, and hospitality space.
The company also declared a P0.58 per share dividend, payable on June 11 to shareholders of record as of May 27, 2025.
